People here in ET are too judgemental, they think there is only one way to trade.
Find your way and let others be.
Newbies listen ! My Story w/ lessons
- Thread starter wiesman02
- Start date
People here in ET are too judgemental, they think there is only one way to trade.
Find your way and let others be.
First of all, I don't call myself an expert, guru nor do I like it when someone pretends I implied such. Secondly, I don't trade via computer codes nor mechanical systems...never have and never will nor have I implied I do my trading as such to you nor to anybody else online or in person.
I'm a discretionary trader (price action only...no indicators) which is something you've seen me write about as such. In addition, as I've explained to you before, successful trading is not about entry and exit signals. I put more value on my market experience, money management, discipline, trading environement, stress management, social support and then my trade methodology...
You notice how the above mentions trade methodology by me as the last one.
All of which you've seen me discuss multiples of times and within a few replies specifically to you. Don't you read my messages or are you under the some crazy belief that I think it's all done via a trade signal that can be tested by some ET quant.
In addition, don't mention my website here because I never do and if you're going to mention my website...at least ask me for a job and I'll pay you to be a shill (that's a joke).
Seriously, I don't advertise here and my income level affords me such. Further, ET management (Baron and Joe) know such. Therefore, you may want to spend your time looking at those that actually call themselves experts or gurus and promise riches via some secret computer code.
With all that, although you have strongly disagree with me in a prior conversation that there's more to profitable trading than trade signals...
Check out the Trading Hammers (revisit) thread if you want to test some stuff I use and still do.
@ http://www.elitetrader.com/vb/showthread.php?s=&threadid=52880
Make sure you read the entire thread to understand it's content because I'm a big believer there's more to profitable trading than just codes and there's plenty of objective rules in that thread to keep you busy for awhile in satisfying that quant itch you seem to have. It's an old thread and if you need help...go to the thread and start participating with your questions about Hammer patterns. No secrets, no magic...just screen time and please let me know if you don't understand such (the value of screen time, screen time and more screen time).
Mark
Yes this shows you are a real trader and uinderstand the markets, unlike the rah rah paper trading boys here who proclaim this is the "bestest" ever year for trading.
I have only traded for 7 years FOR A LIVING but i will say in terms of good opportunities this year is the worst ever.
+1
You are obviously not in tune with traders, I trade on the Asset desk and the concensus is this has been a tough environment, similar to what many at the NY branch of Lightspeed are saying as well.
Yes if you are a BUY and HOPE investor you would have done well, but for active traders, this year has not been good generally speaking.
You could be right but I know guys/gals on the firm side and retail side (including myself) that 2009 is not as profitable or more stressful in comparison to prior trading years. In addition, I have not heard anyone I know in person (firm or retail) say they are having their best year nor say it's one of their better trading years.
However, I have had in person discussion with a few that say it's their best trading day or best month in years but not the best year. Yeah, my side of town isn't the only one and I'm sure someone out there is having their best trading year in something that's not the S&P 500 Emini ES futures.
XMAS bonus will be low or nothing for some of my firm buddies this year unless a miracle happens between now and XMAS. :eek:
P.S. S&P 500 Emini ES futures still in a low volatility range since it's intraday lows. Nothing to bite on unless you want to scalp right now.
Mark
That and 25 cents...
seriously, Winning % doesn't mean squat. Newbie traders will manipulate their trades and money management, chasing after this meaningless stat.
You have 90 winners totalling $10,000 and 10 winners totalling $17,000. So...?
Profit Factor and other trading metrics means 100 times as much...
+5.
Newbies spend huge sums and a lot of time chasing books, TS plugins, magazines, websites, chatrooms, education, and everything else. It is almost impossible for a newer trader to judge if a mentor being considered knows anything, will pass on their edge, or whether the "student" has the knowledge, patience or ability to even apply the thing learned... and price doesn't mean beans...
You either learn how to trade, or you spin your wheels.
s
Great points! the shear magnitude of that guys posts are a sure sign of an armchair pretender trying to achieve guru status.
I have never in my life seen anything so verbose yet lacking in content. Complication for complication sake, what a piece of work!